Bank of New York Mellon Corp Acquires 49,133 Shares of Valmont Industries, Inc. (NYSE:VMI)

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Bank of New York Mellon Corp increased its holdings in Valmont Industries, Inc. (NYSE:VMI) by 12.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 439,743 shares of the industrial products company’s stock after buying an additional 49,133 shares during the period. Bank of New York Mellon Corp’s holdings in Valmont Industries were worth $46,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $33,000. Penserra Capital Management LLC bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $39,000. Fifth Third Bancorp grew its holdings in shares of Valmont Industries by 310.0% in the first quarter. Fifth Third Bancorp now owns 410 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 310 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new position in shares of Valmont Industries in the fourth quarter valued at approximately $219,000. 87.85% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on VMI shares. DA Davidson reduced their target price on Valmont Industries from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, April 24th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $114.00 to $128.00 and gave the company a “hold” rating in a report on Friday, April 24th. Four research analysts have rated the stock with a hold rating, Valmont Industries has an average rating of “Hold” and an average target price of $132.33.

Shares of NYSE VMI opened at $107.05 on Friday. The stock has a fifty day simple moving average of $109.30 and a two-hundred day simple moving average of $129.69. Valmont Industries, Inc. has a 1-year low of $82.60 and a 1-year high of $154.86. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.29. The company has a current ratio of 2.52, a quick ratio of 1.78 and a debt-to-equity ratio of 0.70.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.60. Valmont Industries had a return on equity of 15.00% and a net margin of 5.83%. The business had revenue of $674.20 million during the quarter, compared to analyst estimates of $674.66 million. During the same period in the prior year, the company earned $1.84 earnings per share. Valmont Industries’s revenue was down 2.6% compared to the same quarter last year. Analysts forecast that Valmont Industries, Inc. will post 6.36 EPS for the current year.

About Valmont Industries

Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

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Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI).

Institutional Ownership by Quarter for Valmont Industries (NYSE:VMI)

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